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Ellen, Tax Attorney
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Need to know if the sale of territory rights by an S corp is

Resolved Question:

Need to know if the sale of territory rights by an S corp is ordinary or capital gain income, there is no basis in the rights.
Submitted: 5 years ago.
Category: Tax
Expert:  Ellen replied 5 years ago.

Thank you for your question. If my answer is not clear to you, please ask me for clarification by using the reply button.

The sale of territory rights by an s corp is treated as a capital gain. The territory rights is considered a capital asset
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